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- RES 4: $488.40 - High May 10 and the bull trigger
- RES 3: $471.10/78.55 - High Jun 1 / High May 18
- RES 2: $460.10 - High Jun 11
- RES 1: $440.45 - High Jun 16
- PRICE: $431.30 @ 13:04 BST Jun 25
- SUP 1: $409.40 - Low Jun 21
- SUP 2: $406.55 - 76.4% retracement of the Apr 3 - May 10 rally
- SUP 3: $399.22 - Major trendline drawn from Mar 19, 2020 low (cont)
- SUP 4: $398.80 - Low Apr 12
Recent Copper gains are considered corrective and a short-term bearish outlook remains intact. The sell-off on Jun 15 resulted in a break of the 50-day EMA. Furthermore, the follow through and break of trendline support at $423.86 reinforces the current bearish theme. The trendline is drawn off the Oct 2, 2020 low. Attention is on $405.66, a Fibonacci retracement. On the upside, initial resistance is at $440.45, Jun 16 high.